利奥控股获得股东同意，将以11亿美元将Local Bounti上市

2021-11-17 22:10

Leo Holdings III (NYSE:LOCL) has received a majority approval from its shareholder for a $1.1B business combination with the indoor agriculture startup Local Bounti Corporation.
In this latest update, the special purpose acquisition company Leo said that 98% of its shareholders have voted in favor of the transaction in a meeting held on Tuesday.
Upon closing, Leo will change its name to Local Bounti Corporation and the stock will begin trading on NYSE under the ticker symbol "LOCL".
"This is a transformative next step for Local Bounti as it continues to disrupt the agriculture industry and revolutionize the consumer relationship with fresh, local, and sustainable produce. The company's differentiated business model enables products to be grown 365 days a year with 90% less water and a vastly lower environmental impact than traditional agriculture," says Edward C. Forst, Chairman of Leo.
The transaction tracks back to deal first announced in mid June this year, stating the deal will provide up to $400M of gross proceeds to the combined company and includes a $125M PIPE.
Closing of the business combination is expected on November 22, 2021.
LOCL last traded at $9.98.
In the exclusive CEO Interview series with Seeking Alpha, Local Bounti CEO Craig Hurlbert talked about controlled environment agriculture and smart greenhouses with the importance of having a maniacal focus on unit economics.